Two-Level Condominium with
For Sale
$679,000
3408 WARDER STREET NW Unit 2, Washington, DC 20010
Second-floor condominium offering townhouse-style space, covered porch access, and off-street parking.
Property Size1,537 SF
Days on Market32
Property Features for 3408 WARDER STREET NW Unit 2
General Information
Standard status
Active
Size
1,537 SF
Property subtype
Unit/Flat/Apartment
Additional Details
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$3,156
Amenities
fireplaces
covered front porch
off-street parking
Building Details
Building Size
1,537 SF
Year Built
1916
Listing Agency:
Samson Properties
Listed By:
Ronald A Graham · License #SP98362968
(202) 375-0616
Source:
Barnesrealestatecompany
Added: Aug 10
Changed: Aug 30
Last Checked: Sep 10 at 5:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Samson Properties
Investment Insights
Based on property information with market context.
This two-level, second-floor condominium provides 1,537 square feet of residential space with two bedrooms, two and a half bathrooms, and two fireplaces. The layout includes substantial living and entertaining areas, a covered front porch, abundant natural light, and off-street parking. Built in 1916, the property combines condominium ownership with a multi-level floor plan that offers a townhouse-like configuration.
The home is located in Washington’s East Columbia Heights neighborhood, near grocery stores, coffee shops, restaurants, breweries, parks, fitness studios, Target, Giant Food, Lidl, and DC USA. Columbia Heights and Georgia Ave-Petworth Metro Stations, Metrobus routes, and major commuter corridors are nearby. Howard University, The Catholic University of America, several medical centers, Downtown Washington, DC, Union Station, and Ronald Reagan Washington National Airport are also within easy reach.
The home is located in Washington’s East Columbia Heights neighborhood, near grocery stores, coffee shops, restaurants, breweries, parks, fitness studios, Target, Giant Food, Lidl, and DC USA. Columbia Heights and Georgia Ave-Petworth Metro Stations, Metrobus routes, and major commuter corridors are nearby. Howard University, The Catholic University of America, several medical centers, Downtown Washington, DC, Union Station, and Ronald Reagan Washington National Airport are also within easy reach.
Key Highlights
- 1,537‑square‑foot condominium built in 1916
- Two‑level, second‑floor layout with two bedrooms and 2.5 bathrooms
- Two fireplaces and abundant natural light
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,538
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$510,760
$510.8K
Cap Rate 7%
$364,829
$364.8K
Cap Rate 9%
$283,756
$283.8K
Market Conditions
NOI Build-Up for 1,537 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.9K $31.80/SF
− Vacancy
−$2.4K −$1.59/SF
EGI
$46.4K $30.21/SF
− OpEx
−$20.9K −$13.59/SF
NOI
$25.5K $16.62/SF
Area
Washington, DC
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$510,760
Cap Rate 7%
$364,829
Cap Rate 9%
$283,756
Alternative Uses
Best Use
Apartment 5plus
$364.8K
$319.2K – $425.6K
NOI $25,538 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$790.6K
$691.8K – $922.4K
NOI $55,341 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
5,303
Businesses Nearby
Explore this area
Business Placement
Demographics for 20010, DC
32,663
Population
15,917
Households
2.1
Avg Household Size
33
Median Age
67%
College-Educated
87%
High-School Grad
1.0 sq mi
ZIP Area
32,663
Density / Sq Mi
$110,260
Median Household Income
$81,834
Median Earnings
$1,815
Median Rent
$868,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor condominium offering townhouse-style space, covered porch access, and off-street parking.
Where is this residential income property located?
The property is located at 3408 WARDER STREET NW Unit 2 Washington, DC.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: 1,537‑square‑foot condominium built in 1916; Two‑level, second‑floor layout with two bedrooms and 2.5 bathrooms; Two fireplaces and abundant natural light
